Laguna's debenture holders had 'many options' to surrender notes: owner Peter Kwee
He says members who took up debentures to help finance construction of the golf and country club are not likely to get their money back
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WITH Laguna National in the red for a sustained number of years, pioneer members who took up debentures to help finance construction of the golf and country club are not likely to get their money back, said the club's owner Peter Kwee.
Speaking to The Business Times just days before he was to give an account of the club's latest financials to its trustees, Mr Kwee said there are currently about 100-odd members who are awaiting redemption of their non-interest bearing unsecured notes of S$120,000, down from the 971 original noteholders who took up the debentures in September 1991.
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